According to the bank, $29.5bn came out of equity funds during the week, the most since it started keeping records in 2002.
Japan was the only market to buck the downward trend, reporting $3.3bn in inflows in the week, making it 25 weeks of inflows out of the past 27. But, these failed to stem the tide of outflows seen in other parts of the world; emerging market equities reported $10.5bn in outflows, the US $12.3bn and Europe $3.6bn.
Not to be outdone, credit funds recorded the largest combined outflows since the taper tantrum of June 2013. Emerging market debt funds lost $4.2bn, while high yield and investment grade bond funds, saw $4.9bn and $3.8bn in outflows respectively.
On the contrary, and in a clear indication of a flight to less risky assets, cash funds saw $22bn in inflows, the largest since December 2013, while precious metals saw the largest inflows since the beginning of the year, worth $1.1bn.
